Plaid Inc Data Breach Affects Venmo, Chime, Stripe and Others
Venmo, Chime, Stripe and a few other money apps were recently involved in a huge data breach. In which Plaid will need to pay $58 million to settle the case in courts, which means a huge payout if you have an account. The amount to be payed out is not determined as of yet. This applies to anyone in the US that has used Plaid to login and gain access to your accounts, and the class action lawsuit comes after plaintiffs say Plaid acted improperly after gaining their log in info. The class action also states Plaid gained access to more financial information than what was needed for the payment, on top of the log in information, thus deceiving users and made it seem they were logging into their actual bank. This is for users who connected a financial account to an app between January 1, 2013 and November 19, 2021 in the USA. If this applies to you, continue reading to see how to file a claim online and the deadline to file.
The Venmo Data breach is huge and affects over a million users. Plaid works with over 5,000 companies for financial accounts, which is supposed to simplify instant authorization of bank accounts or payments. Plaid Inc also works with Acorns, Varo, SoFi and more similar apps that gain access to your login in info including passwords to authenticate payments. Members who have one or more of these accounts can only file one claim. And no proof is needed for this settlement. However the amount given to each person depends on the number of claims and after all attorney and court fees. You have until April 28th to file a claim online, and a final hearing for this Venmo Data Breach will be held on May 12th, 2022.
